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USD/INR Dips On Hawkish +25bps From RBI, But Little Follow Through

INR

USD/INR prints at 82.63/65, ~0.1% lower in today's trading.

  • RBI raised the Repurchase Rate 25bps to 6.5% as expected. RBI Governor Das noted that the bank will remain focused on the withdrawal of accommodation, somewhat more hawkish than the market had expected.
  • USD/INR printed a low of 82.6012 in the immediate aftermath of the decision however there was little follow through as the pair quickly retraced to current levels.

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